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| Phase one construction of The Plaza Coral Gables includes a 14-story, Class A, state-of-the art office building totaling 291,129 square feet; 135 multi-housing units and 34 ground level/loft apartment units in Coral Gables, FL |
MIAMI, FL, June 4, 2019 – Holliday Fenoglio
Fowler, L.P. (HFF) announced today that it has arranged $100 million in
construction financing for the development of the first of two phases of The
Plaza Coral Gables, a mixed-use project located in the heart of the Coral
Gables business district.
HFF worked on behalf of the borrower, Agave Holdings, LLC,
to secure the construction facility.
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| Manny de Zarraga |
The Plaza Coral Gables represents the first large scale
mixed-use development within the City of Coral Gables and includes the design
and development of Ponce Park, which will serve as an extension of the
project’s dramatic open plaza area.
Designed
by CallisonRTKL, phase one of the project includes a 14-story, Class A,
state-of-the art office building totaling 291,129 square feet; 135 multi-housing
units, 34 ground level/loft apartment units;
Also: 101,439
square feet of retail space primarily fronting Ponce del Leon and the dramatic
plaza, and consisting of an experiential theme with restaurants, entertainment
and service tenants.
The second phase, not part of the financing,
will provide an additional 222,541 square feet of net rentable area, including
office, residential townhomes and retail, as well as a 242-key hotel.
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| Jim Dockerty |
The
project broke ground in December 2017 and has an estimated completion date of
June 2020.
The HFF capital markets team representing the borrower
included executive managing director Manny de Zárraga, managing director
Jim Dockerty and director Matthew McCormack.
“The Plaza Coral Gables is not only a milestone project for
Coral Gable’s history but in South Florida history,” de Zárraga said.
“This project is the culmination of years of hard work by the Agave team, who
are focused and dedicated to providing the best tenant and customer experience
for years to come.”
About Agave
Holdings, LLC
Agave Holdings, LLC
is a privately-owned, commercial real estate firm specializing in the
acquisition and development of generational commercial properties throughout
the United States and Mexico.
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| Matthew McCormack |
With
offices in Miami and Mexico City, the firm, which represents the interests of Grupo
JB (family of Juan Beckmann of José Cuervo), currently owns and
manages more than four million square feet of institutional Class A office
space across the United States and Mexico.
About HFF
HFF and its affiliates
operate out of 26 offices and are a leading provider of commercial real estate
and capital markets services to the global commercial real estate
industry.
HFF, together with its affiliates, offers
clients a fully integrated capital markets platform, including debt placement,
investment advisory, equity placement, funds marketing, M&A and corporate
advisory, loan sales and loan servicing.
HFF, HFF Real Estate Limited, HFF Securities
L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).
For
more information, please visit hfflp.com or follow HFF on Twitter @HFF.
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| Juan Beckmann |
CONTACTS:
MANNY DE ZÁRRAGA
HFF Executive Managing
Director
(305) 448-1333
JIM DOCKERTY
HFF Managing Director
(305)
448-1333
MATTHEW MCCORMACK
HFF Director
(305)
421-6558
KRISTEN MURPHY
HFF Director, Public Relations
(617) 848-1572
